billing
Billing — Under 100 People
What This Process Does
Project billing at this size is the discipline that turns delivered work into cash. Three primary models: T&M (time-and-materials, billed monthly based on tracked time + expenses), fixed-fee milestones (billed at SOW-defined milestone completion), and retainer (recurring monthly fee for ongoing engagement). Tooling: QuickBooks Online, Xero, FreshBooks for accounting + invoicing; Harvest or Toggl invoicing for time-based; PM-tool-native (Asana, Monday) increasingly capable.
The work: bill accurately, bill quickly, collect promptly, and use billing data to improve project + business decisions. Mistakes: slow billing (cash sits with clients longer), inaccurate billing (disputes + write-offs), missed billing (revenue leakage), no realization tracking (margin erosion hidden).
Start Here: ERP•AI Templates
ERP•AI's Small Business Project Billing template provides T&M billing automation, milestone billing workflow, retainer recurring billing, expense pass-through, invoice generation + delivery, payment capture, collections orchestration, and revenue recognition for services. Pair with Time & Expense for hours-to-invoice flow + Accounts Receivable for collections.